TSMC Board of Directors Meeting Resolutions

Hsinchu, Taiwan, R.O.C., May 12, 2020 – TSMC (TWSE: 2330, NYSE: TSM) today held a meeting of the Board of Directors, which passed the following resolutions:

1. In response to COVID-19 pandemic, approved change of location for TSMC’s 2020 Annual Shareholders’ Meeting on June 9, 2020 to the Ambassador Hotel Hsinchu (10F, No. 188, Section 2, Zhonghua Road, Hsinchu).

2. Approved the distribution of a NT$2.5 per share cash dividend for the first quarter of 2020, and set September 23, 2020 as the record date for common stock shareholders entitled to participate in this cash dividend distribution, and the ex-dividend date for the common shares shall be September 17, 2020. As required by Article 165 of Taiwan’s Company Law, the shareholders' register shall be closed for five days prior to the record date (September 19 through September 23, 2020) for registration transfer, and the dividend will be paid on October 15, 2020. In addition, the ex-dividend date for TSMC American Depositary Shares (ADSs) will be September 17, 2020. The record date for TSMC ADSs entitled to participate in this cash dividend distribution will be September 18, 2020.

3. Approved capital appropriations of approximately US$5,704.0 million (approximately NT$168.3 billion) for purposes including: 1) Fab construction, and installation of fab facility systems; 2) Installation and upgrade of advanced technology capacity; 3) Installation of specialty technology capacity; 4) Third quarter 2020 R&D capital investments and sustaining capital expenditures.

4. Approved capital appropriation of approximately US$64.75 million (approximately NT$1.9 billion) for capitalized leased assets in the second half of 2020.

5. Approved the issuance of no more than NT$60 billion (approximately US$2.03 billion) unsecured corporate bonds in Taiwan to finance TSMC’s capacity expansion and/or pollution prevention related expenditures.

6. Approved the promotion of Research & Development Organization’s Vice President of Technology Development Dr. Cliff Hou to Senior Vice President.

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